Private Equity News Asia – SC Capital Partners Consortium Acquires Portfolio of Hotels in Japan for $900 Million
A consortium of Singapore’s SC Capital Partners, a subsidiary of the Abu Dhabi Investment Authority (ADIA) and Goldman Sachs Asset Management, has acquired 27 hotels in Japan for about $900 million. The properties were acquired from Daiwa House Industry, a Japan-based home construction and real estate development company.
The resort hotels are located in major destinations across the country, including Tokyo, Osaka, Kyoto, and Okinawa.
They have a total of 7,124 rooms. The statement said that the transaction is a rare opportunity to acquire one of the largest and most prominent hotel portfolios in Japan.
Mohamed Al Qubaisi, executive director of the real estate department at ADIA said that “Japan’s real estate sector continues to deliver superior returns, and the country’s hotel market is well positioned for growth from the rebound of travel.”
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Suchad Chiaranussati, chairman and founder of SC Capital Partners said that “this is a significant transaction for SC Capital and our partners, and we are excited to acquire this high-quality portfolio of hotels in Japan.
The deal is an expansion of the relationship between SC Capital and ADIA, one of the world’s largest sovereign wealth funds. They launched a $2 billion data centre investment strategy in November last year.
The acquisition is a sign of confidence in the Japanese hotel market, which is expected to grow in the coming years. The country is a popular tourist destination, and the economy is expected to continue to grow.
Here are some additional details about the deal:
- The hotels were acquired through a tender process.
- The deal was financed by a combination of debt and equity.
- The consortium plans to invest in the hotels to improve their operations and amenities.
- They also plan to expand the portfolio by acquiring additional hotels in Japan.
The acquisition of the hotel portfolio is a significant development for the Japanese hotel market. It is a sign of confidence in the market and is likely to lead to further investment in the sector.
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